ITC Ltd has plans to open stores in high footfall locations to showcase its range of consumer products. The new stores will just showcase the expanded range of ITC products and not contest with its sales channel. These stores will not compete with the channel partners. This comes at a time when ITC is betting on its newer FMCG business to generate Rs one lakh crore sales by 2030. The total portfolio of these brands had an annual consumer spend of over Rs 18,000 crore in FY19. ITC is launching over 50 new products every year and has plans to venture into every possible category. At present, ITC operates in packaged food, personal care, education and stationary, agarbatti and safety matches. Emergence of more high-end stores in the retail sector will be a new business opportunity for the signage companies whose activities involve in in-store signage, designs, branding and such projects.
